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It’s moving day, and you are finally getting your furniture and other belongings into your very own condominium. Congratulations! Any day a person takes ownership of his/her new home is indeed momentous, and if you have never before owned a condo you are in for a very unique living experience. Living in a condo is similar to having a house, yet not unlike living in an apartment. Depending on the type of complex in which your home is situated, you can expect a variety of amenities at your disposal. Of course, there are also regulations to which you must adhere.

What should you expect when living in a condo? Here are just a few things:

1) As a resident in your community, you are expected to uphold any rules and regulations enforced by said community. Therefore, if there are restrictions with regards to installing satellite dishes and holiday lighting and decorations, or if you wish to do some customized landscaping on your property, you will have to adhere to what your community’s covenant says. Now, as a resident, you do have the right to petition the board for change – talk with a board member about your concerns.

2) You may enjoy any number of amenities available to residents. This could include a swimming pool, fitness center, access to the clubhouse, or even golf privileges if you live in a golf community. Maintenance for amenities is typically paid for by your fees, so it’s important that you pay them in a timely manner.

3) Depending on the size of your new home, you may have to pare down if you’re coming from a bigger house. Evaluate what you need first before deciding what has to be given away or sold. (more…)

Some people only need one reason to buy a condominium as opposed to a house. If you are looking for a new place to live, and are located in an area where condos are plentiful and ideally located, you no doubt have given the prospect of owning one some serious thought. Yes, there are things to consider like monthly or yearly fees, payments following assessment, and living very close to your neighbors, but condo living is not without its many advantages. If you are scraping for just one reason to buy one, here are ten from which you can choose.

1) Buying a condo is a good investment. You could live in one for many years, but if ever you need to move you have the option of turning your property into a rental. Condos are typically a prime rental property in resort areas – you could rent yours year round or during peak seasons.

2) Owning a condo usually means less yard work. If you buy into a high-rise, you definitely don’t have to mow a lawn! However, if you buy into a more spread out community, your fees cover the cost of landscaping.

3) Buying a condo is a better investment than renting. When you rent, you give money away to live in your home. When you’re finished, you have little if anything to show for it. Buying a condo gives you property that is yours.

4) Simple repairs and renovations may be covered in your fees. Unlike with a home, you probably won’t be able to add on to your condo, but simple fixes in plumbing and electricity may be handled by your condo community, so you’ll save time and the hassle of hiring a contractor.

5) You gain access to amenities you might not obtain otherwise. Pool ownership, for example, can produce headaches. Buy a condo with pool access, and you can enjoy the luxury without the stress of maintenance. (more…)